Brent oil slipped to around $71 a barrel on Tuesday, pressured by expectations o...
LONDON/SINGAPORE - Brent oil slipped to around $71 a barrel on Tuesday, pressured by expectations of higher U.S. inventories and concern about Russia’s willingness to stick with OPEC-led supply cuts.
Analysts on average expect U.S. crude stockpiles to have risen by 1.9 million barrels last week, the fourth straight increase. The first of this week’s stockpile reports is due at 2030 GMT from the American Petroleum Institute. [EIA/S] “The rising inventory data has raised many questions for investors - no one wants to see the oil glut again.”
While OPEC-led supply cuts have boosted Brent by more than 30 percent this year, gains have been limited by worries that slowing economic growth could weaken demand for fuel.
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Russia, OPEC may ditch oil deal to fight for market share: Russian ministerRussia and OPEC may decide to boost production to fight for market share with th...
Read more »
Oil edges lower, supply concerns check lossesOil prices edged lower on Monday after international benchmark Brent hit a fresh...
Read more »
Oil dips, supply issues in focusOil prices edged lower on Monday after international benchmark Brent hit a fresh...
Read more »
Oil pauses; focus on future supply directionOil prices nudged lower on Monday after international benchmark Brent hit a fres...
Read more »
OPEC oil output drops sharply in March, driven by Saudi ArabiaThe bulk of the cuts were shouldered by Saudi Arabia — the de-facto head of OPEC and the world’s largest exporter of crude — which reduced output by 324,000...
Read more »
Venezuela reports collapse in oil supply, tightening global market: OPECVenezuela told OPEC that the country's oil output sank to a new long-term l...
Read more »
Oil prices firm back to near 5-month highs ahead of OPEC, U.S. inventory updatesOil futures prices firm early Wednesday, trending back near the five-month closing highs reached earlier this week, as investors awaited U.S. inventory data and a monthly OPEC report meant to show how much output the cartel and its allies cut in March.
Read more »
OPEC could raise oil output if prices increase, shortages mount: sourcesOPEC could raise oil output from July if Venezuelan and Iranian supply drops fur...
Read more »
Oil prices firm amid OPEC supply cuts, U.S. sanctions on Iran and VenezuelaOil prices were firm on Friday, supported by ongoing supply cuts led by producer...
Read more »
Oil extends losses into second session; Russia, OPEC output in focusOil prices edged down on Tuesday after a Russian minister said the nation and OP...
Read more »